{"id":4951,"date":"2025-01-01T09:03:18","date_gmt":"2025-01-01T09:03:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=4951"},"modified":"2025-01-01T09:03:18","modified_gmt":"2025-01-01T09:03:18","slug":"trumps-plan-to-buy-500000-bitcoin-will-pass-us-senate-claims-scaramucci","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=4951","title":{"rendered":"Trump\u2019s Plan To Buy 500,000 Bitcoin Will Pass US Senate, Claims Scaramucci"},"content":{"rendered":"
\n

Anthony Scaramucci, founder of SkyBridge Capital and author of the upcoming The Little Book of Bitcoin, has voiced his belief that a sizable government purchase of Bitcoin\u2014potentially as much as 500,000 BTC\u2014will advance through the US Senate. Speaking on the Bankless podcast<\/a> with host Ryan Sean Adams, Scaramucci suggested that top lawmakers are aligning to introduce a strategic Bitcoin reserve, despite the apparent risk to the US dollar\u2019s perceived backing.<\/p>\n

Will Trump Buy Bitcoin?<\/h2>\n

Scaramucci, who maintains close ties to several legislators, addressed current Senate sentiment regarding a possible government acquisition of Bitcoin and cited broad support for Senator Cynthia Lummis\u2019 bill<\/a>. \u201cThey\u2019ve got the votes. Hagerty wants it. McCormack wants it,\u201d he stated. In reference to whether he thinks the Senate would approve a plan to enlarge the government\u2019s Bitcoin holdings, he affirmed, \u201cI do think so, yes.\u201d<\/p>\n

Although Senator Lummis\u2019 initial proposal included purchasing up to one million BTC, Scaramucci contended that the final arrangement might be different. \u201cThis stuff gets horse traded so you\u2019ll probably have 200,000 BTC won\u2019t get sold\u2014they\u2019ll probably buy another 400,000 or 500,000 Bitcoin over the next [\u2026],\u201d he remarked, omitting a precise timeline.<\/p>\n

He elaborated that Donald Trump will be a significant force behind such a plan: \u201cTrump wants it to happen and he\u2019s got the Senate Banking Committee. Tim Scott wants it to happen\u2014he\u2019s going to be the chair of the Senate Banking Committee.\u201d<\/p>\n

One of the most significant takeaways from Scaramucci\u2019s remarks is the potential for bipartisan support, even if notable opponents such as Senator Elizabeth Warren (D-MA) and Senator Sherrod Brown (D-OH) have criticized pro-BTC and crypto measures in the past.<\/p>\n

In referencing earlier legislation, Scaramucci pointed out that \u201ca lot of Democrats voted for the SAB 121 Bill<\/a>,\u201d adding: \u201cIf you looked at the dispersion of the vote, it was a bipartisan approval of that bill. And by the way, Ryan, if you were below the age of 60 and a Democrat, you voted for the bill. If you were a fossil like Elizabeth Warren or Sherrod Brown, you voted against it.\u201d<\/p>\n

He went on to name Ro Khanna<\/a> (D-CA) as a Democrat he believes would likely support a strategic Bitcoin reserve. According to Scaramucci, younger legislators increasingly view Bitcoin through the lens of \u201cdigital gold,\u201d making them more open to incorporating it into federal holdings.<\/p>\n

A central theme in Scaramucci\u2019s argument for a strategic Bitcoin reserve is the comparison to gold. The US currently has around $600 billion worth of gold in its reserves. In his view, dedicating a fraction of that amount to BTC\u2014even to the extent of selling off some gold reserves\u2014could fortify the US economy in an era of digital transformation.<\/p>\n

\u201cIf Bitcoin is digital gold, and we have $600 billion of gold on reserve at our Federal Reserve Bank, you\u2019re telling me we couldn\u2019t put $750 million to $1 billion of Bitcoin on reserve? Is that what you\u2019re saying?\u201d he asked, emphasizing the plausibility of this approach.<\/p>\n

Scaramucci\u2019s stance extends beyond just holding BTC; he also believes that if China or other major economies move swiftly into Bitcoin reserves, the US could risk losing a strategic advantage. He underscored that the possible sum for a 400,000 or 500,000 BTC purchase might stand at around $70\u2013$80 billion\u2014representing just 1\u20131.5% of a $6 trillion federal budget, or approximately 30 basis points allocated over five years.<\/p>\n

\u201cIf you put me in that seat and said, \u2018Is it in the United States\u2019 national interest to have a strategic reserve in Bitcoin?\u2019 I would say yes,\u201d Scaramucci stated. \u201cAnd then if you said to me why, I would say three reasons. Number one, I do believe it\u2019s digital gold. Number two, the younger generation is going to live much further in the digital world than me. Number three, we believe, rightly or wrongly, that the Chinese are going to move to buy Bitcoin.\u201d<\/p>\n

Critics of a US Strategic Bitcoin Reserve often argue that building a substantial reserve could undermine global confidence in the US dollar, raising questions about what the dollar is backed by. However, Scaramucci sees it differently, suggesting the US could reinforce the dollar\u2019s standing by staying technologically competitive:<\/p>\n

\u201cMaybe because I\u2019ve been in the space longer, I think we\u2019re further along,\u201d he reflected. \u201cWe\u2019re in a modern society. And Trump wants to make a statement. If we believe that the Chinese are going to move to make [Bitcoin] a strategic reserve asset, then what are we talking about? You\u2019re talking about a small percentage of the budget to buy Bitcoin over five years, which could strengthen the dollar emotionally and put the United States on better competitive footing.\u201d<\/p>\n

At press time, BTC traded at $93,702.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

Anthony Scaramucci, founder of SkyBridge Capital and author of the upcoming The Little Book of Bitcoin, has voiced his belief that a sizable government purchase of Bitcoin\u2014potentially as much as 500,000 BTC\u2014will advance through the US Senate. Speaking on the Bankless podcast with host Ryan Sean Adams, Scaramucci suggested that top lawmakers are aligning to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-4951","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4951"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4951\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}